Cubic Corp. (CUB) Rating Reiterated by Canaccord Genuity
Cubic Corp. (NYSE:CUB)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity in a research report issued on Tuesday. They presently have a $48.00 price target on the stock. Canaccord Genuity’s target price points to a potential upside of 3.11% from the company’s current price.
CUB has been the topic of a number of other research reports. Needham & Company LLC reduced their target price on Cubic Corp. from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 14th. Zacks Investment Research lowered Cubic Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $45.25.
Cubic Corp. (NYSE:CUB) opened at 46.55 on Tuesday. Cubic Corp. has a 52 week low of $30.11 and a 52 week high of $49.93. The company has a market cap of $1.26 billion, a PE ratio of 775.83 and a beta of 0.98. The company has a 50-day moving average of $44.10 and a 200-day moving average of $43.34.
Cubic Corp. (NYSE:CUB) last released its earnings results on Monday, November 21st. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by $0.46. Cubic Corp. had a return on equity of 0.78% and a net margin of 0.12%. The business earned $406.60 million during the quarter, compared to analysts’ expectations of $390.30 million. During the same quarter in the previous year, the business earned $0.74 EPS. On average, equities analysts expect that Cubic Corp. will post $0.51 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its position in shares of Cubic Corp. by 34.1% in the second quarter. Franklin Resources Inc. now owns 1,304,100 shares of the company’s stock valued at $52,373,000 after buying an additional 331,900 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Cubic Corp. by 17.2% in the third quarter. BlackRock Fund Advisors now owns 1,988,844 shares of the company’s stock valued at $93,098,000 after buying an additional 291,568 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cubic Corp. by 15.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,386,113 shares of the company’s stock valued at $55,666,000 after buying an additional 188,029 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cubic Corp. by 6.6% in the second quarter. Vanguard Group Inc. now owns 1,816,307 shares of the company’s stock worth $72,943,000 after buying an additional 112,938 shares during the last quarter. Finally, RidgeWorth Capital Management LLC increased its stake in shares of Cubic Corp. by 16.0% in the second quarter. RidgeWorth Capital Management LLC now owns 806,794 shares of the company’s stock worth $32,385,000 after buying an additional 111,402 shares during the last quarter. Hedge funds and other institutional investors own 89.36% of the company’s stock.
About Cubic Corp.
Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates through three segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems) and Cubic Global Defense Services (CGD Services).
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